Is your company looking to hire new people? Making sure you have all the kinks worked out before hiring is a must. Here are three tips to ensure you hire the best people for your business.
Should You Offer Benefits?
The first thing to consider before hiring for your business is whether you will offer benefits to your employees. Often, people look for specific jobs particularly for the benefits, though it depends on the person. Benefit options include health insurance for both the employee and his or her family members. Whether your company provides benefits is contingent upon the company budget and how much the employee makes. If your company has the means, then you should offer benefits. If you do, you will probably gain more loyal hires who stick with your company for longer periods of time. When employees can get benefits while working, they are more likely to work harder.
What Kind of Company Culture Do You Want?
Company culture is everything. If the culture within your company is toxic and unfriendly, then you will have a harder time recruiting people or even giving directions. The fact of the matter is that certain people create certain cultures. It has nothing to do with the type of company and everything to do with those who work within the company. Building the culture you want in your company can start in the interview. When interviewing potential candidates, you can ask questions to see if they have the right personality fit for the kind of company culture you want to build. The interviewee would have to be a pretty good liar to convince you that he or she is the right fit when he or she really is not. Pay special attention to each person's background, accreditation, and demeanor. Attitude speaks volumes when trying to choose an employee who fits your desired culture.
How Many People Are You Looking to Hire?
Lastly, you want to think about how many people it will take to get the job done There are all sorts of different number configurations to guess. The key here is to be practical and honest with the numbers. Don't scrimp if you can afford it. Count how many employees you would need to hire for your bare-bones operation, and then add more people to the departments that carry the most weight.
Hiring for a business is tricky. Make sure you decide if you will offer benefits, create your desired culture, and understand the realistic number of people you will need for your business. After you complete these tasks, it is time to hire your employees.
Getting dental insurance is smart on a number of levels. You never quite know when an unpleasant dental surprise will hit, so having insurance can give you some peace of mind. Here are some ways to realize the maximum possible benefits from your dental insurance.
Identify the Best Dental Insurance Provider for You
There are many choices in the dental marketplace, but they are all not created equal. You should look for a provider that does not have an annual cap on benefits so expensive treatments can be covered. In addition, some providers have larger networks than others. When dental insurance has a small network, it is difficult to find the right dentist. Finally, and most importantly, you should determine the providers that cover the highest percentage of dental work because insurance is not worth much if it does not cover anything for you.
Do Your Preventative Care
Dental procedures are grouped into three categories: preventive, basic, and major. To promote healthy practices, it is common for dental insurance to cover all or most of the preventive care, some of the basic care, and a smaller portion of major procedures. Especially since it costs you little, you should make sure to do all of the preventive care. This is what saves you from having to do the major and extremely expensive work down the road. Given how much is covered, preventive work is largely just an investment of time instead of money.
Remain in Your Network
Assuming that your insurance has a large enough network, there is really no reason to go out of the network for anything. Dental insurance will pay little to nothing if you are not in their network because the provider does not have an agreement with the dentist. Using your plan doctors will get you the most possible coverage. This is when you can save the most money. If you are having procedures with little to no reimbursement, there really is no need to have dental insurance. Most dentists in a network will not send you a balance bill for what the insurance does not cover so your costs are capped at your co-pay amount.
If you have dental insurance, make sure to use it correctly in order to minimize your out-of-pocket costs. In this way, you are getting your money's worth for your insurance plan.
Buying life insurance now provides a financial safety net for your dependents later if you’re not around to take care of them. After you’re gone, your family can use the proceeds to cover funeral costs, mortgage payments, college tuition and other expenses.
There are two main types of life insurance:
Term Life Insurance is the easiest to understand and has the lowest prices. You can get term life insurance quotes online.
Permanent Insurance is more complex and tends to cost more than term, but it offers additional benefits. Whole life is the most well-known and simplest form of permanent life insurance. Other kinds of permanent life insurance include universal, variable and variable universal.
Term life insurance
Term life insurance provides coverage for a certain time period. If you have a term policy and die within the term, your beneficiaries receive the payout. The policy has no other value.
You choose the term when you buy the policy. Common terms are 10, 20 or 30 years. With most policies, the payout, called the death benefit, and the cost, or premium, stay the same throughout the term.
When you shop for term life:
-Choose a term that coincides with the years you’ll be paying the bills and want life insurance coverage in case you die early.
-Buy an amount your family would need if you were no longer there to provide for them. The payout could replace your income and help your family pay for services you perform now, such as child care.
Ideally, your family’s need for life insurance will end around the time the term expires: Your kids will be on their own, you’ll have paid off your house, and you’ll have plenty of money in savings to serve as a financial safety net.
Whole life insurance
Like all permanent life insurance policies, whole life provides lifelong coverage and includes an investment component known as the policy’s cash value. The cash value grows slowly, tax-deferred, meaning you won’t pay taxes on its gains while they’re accumulating.
You can borrow money against the account or surrender the policy for the cash. But if you don’t repay policy loans with interest, you’ll reduce your death benefit, and if you surrender the policy, you’ll no longer have coverage.
Although it’s more complicated than term life insurance, whole life is the most straightforward form of permanent life insurance. Here’s why:
-The premium remains the same for as long as you live
-The death benefit is guaranteed
-The cash value account grows at a guaranteed rate
Some whole life policies can also earn annual dividends, a portion of the insurer’s financial surplus. You can take the dividends in cash, leave them on deposit to earn interest or use them to decrease your premium, repay policy loans or buy additional coverage. Dividends are not guaranteed.
If you want to discuss options about your life insurance, we recommend speaking with an independent insurance agent like George Beach Insurance Services. We work for you the client, and not a particular big company.
The term "vision insurance" is commonly used to describe health and wellness plans designed to reduce your costs for routine preventive eye care and prescription eyewear such as eyeglasses and contact lenses. Some vision plans also offer discounts on elective vision correction surgery, such as LASIK and PRK.
You can get vision insurance in one of two ways: as a standalone plan or as combined with your dental plan.
Going to the doctor, going to the dentist—all part of taking care of your health. But going to the eye doctor? Also important! Eye exams at every age and life stage can help keep your vision strong. Many people think their eyesight is just fine, but then they get that first pair of glasses or contact lenses and the world comes into clearer view—everything from fine print to street signs.
Only Your Eye Doctor Knows for Sure
Eye diseases are common and can go unnoticed for a long time—some have no symptoms at first. A comprehensive dilated eye exam by an optometrist or ophthalmologist (eye doctor) is necessary to find eye diseases in the early stages when treatment to prevent vision loss is most effective.
During the exam, visual acuity, depth perception, eye alignment, and eye movement are tested. Eye drops are used to make your pupils larger so your eye doctor can see inside your eyes and check for signs of health problems. Your eye doctor may even spot other conditions such as high blood pressure or diabetes, sometimes before your primary care doctor does.
Vision Care Can Change Lives
Early treatment is critically important to prevent some common eye diseases from causing permanent vision loss or blindness:
-Cataracts (clouding of the lens), the leading cause of vision loss in the United States
-Diabetic retinopathy (causes damage to blood vessels in the back of the eye), the leading cause of blindness in American adults
-Glaucoma (a group of diseases that damages the optic nerve)
-Age-related macular degeneration (gradual breakdown of light-sensitive tissue in the eye)
Why get a vision insurance plan?
-Protect your eye health. Routine vision care may not be covered by your health plan.
-Save money. A vision insurance plan may reduce your out-of-pocket costs for eye care.
-Maximize benefits. Receive discounts on vision expenses like glasses or even LASIK.
-Get personalized service.
The two popular Vision Insurance Carriers in California are VSP and Humana.
If you want to discuss options about your vision insurance, we recommend speaking with an independent insurance agent like George Beach Insurance Services. We work for you the client, and not a particular big company.
PPO Dental Insurance Plans
Dental PPO insurance plans, also known as dental preferred provider organizations or DPPOs, are a popular dental insurance option due to their flexibility in allowing insured members to choose dentists and dental specialists. Typically, PPO dental insurance plans are said to offer better service and have less limitations than HMO dental insurance plans, but the premiums are usually more costly. Businesses often use PPO dental insurance plans to provide their employees with a valuable dental benefit. PPO dental insurance plans are used by individuals and families as well.
Dental preferred provider organizations are managed care organizations with a network of dentists under contract with a dental insurance carrier. This network of dentists provides dental PPO insurance plan members with special rates on dental care. The rates are usually lower if the insured member selects a primary dentist and/or dental specialists from the dental PPO network, but the insured individual still has the freedom to choose a dental care provider outside of the established network.
Direct buy PPO Dental Plans are available through the following carriers: Humana, Delta Dental, Nationwide and Renaissance and Careington.
Covered California offers PPO Dental Plans through the following carriers: Anthem Blue Cross, Delta Dental, and Premier Access.
HMO Dental Insurance Plans
Dental HMO insurance plans, also known as dental health maintenance organizations or DHMOs, are usually much cheaper than PPO dental insurance plans and dental indemnity insurance plans. HMO dental insurance plans have networks of dentists under contract with the dental insurance company that offer dental services to insured members at pre-determined rates. HMO dental insurance plans are usually used by businesses to insure their employees, but can be used by individuals and families as well. Individuals who do not receive dental insurance through their employers often turn to HMO dental insurance plans as an option.
One of the main advantages of HMO dental insurance plans is that they usually have lower premiums than the other dental insurance options. Regrettably, HMO dental insurance plans have been known to impose strict restrictions on insured members. For example, the dental HMO will not provide a reimbursement if the insured sees a dentist that is not in their network. People insured with HMO dental insurance plans must select a primary dentist from a pre-approved list. All referrals to dental specialists must be provided by the primary dentist.
Covered California offers HMO Dental Plans through the following carriers: California Dental Network, Dental Health Services, Delta Dental, Access Dental, and Liberty Dental Plan of California.
Healthy teeth are important to your child's overall health. From the time your child is born, there are things you can do to promote healthy teeth and prevent cavities. For babies, you should clean teeth with a soft, clean cloth or baby's toothbrush. Avoid putting the baby to bed with a bottle and check teeth regularly for spots or stains.
What Are The Key Differences Between DHMO and DPPO?
One of the key differences between dental HMO insurance and dental PPO insurance is that DPPOs usually allow dentists to spend more time with insured patients. Dentists in dental HMO insurance plans are expected to see a certain number of patients, so some dentists have been known to rush through dental appointments. Additionally, participants in HMO dental insurance plans often complain about tiresome referral and claims procedures. Despite some of the restrictions and limitations associated with this type of dental insurance, HMO dental insurance plans are a feasible option for many people due to their low cost in relation to other dental insurance plans.
Dental Indemnity Insurance Plans
Dental indemnity insurance plans are fee-for-service insurance plans that require insured members to pay dentists directly for dental services rendered. People covered by dental indemnity insurance receive compensation from the insurance company by submitting claim forms. Dental indemnity insurance plan members often have to wait a long time to receive their reimbursement from the dental insurance carrier, and are expected to pay the difference if the dentist’s fee is greater than the reimbursement.
Employees and/or group members on a dental indemnity insurance plan can choose dentists, change dentists, and even see a dental specialist without a referral. Despite this freedom, many individuals, families and businesses shy away from dental indemnity insurance plans because of the costly premiums, high annual deductibles, and exhausting claims procedures. Typically, dental indemnity insurance plans are structured to insure groups, so they are usually not good options for individuals and families looking for dental insurance. But if you do need a plan with a higher-than-usual annual cap, some companies do sell indemnity plans to individuals.
Aflac has a Dental Indemnity Plan available which allows you to either have the dentist bill Aflac or the patient can pay cash to the dentist and submit a claim. Paying cash to the dentist it usually allows the patient to negotiate a lower price.
If you want to discuss options about your dental insurance, we recommend speaking with an independent insurance agent like George Beach Insurance Services. We work for you the client, and not a particular big company.
HMO - Health Maintenance Organization
An HMO is a type of health insurance plan that usually limits coverage to care from doctors who work for or contract with the HMO. It generally won't cover out-of-network care except in an emergency. An HMO may require you to live or work in its service area to be eligible for coverage. You will usually need a referral from your Primary Care Physician to see a Specialist, resulting in multiple co-pays. All healthcare services are managed in-network through your Primary Care Physician.
In California, the popular HMOs are Kaiser Permanente, Sutter Health Plus, Western Health Advantage, Health Net of California, Sharp Health Plan, LA Care, Molina Healthcare, and Valley Health Plan.
PPO - Preferred Provider Organization
A PPO is a type of health plan that contracts with medical providers, such as hospitals and doctors, to create a network of participating providers. You pay less if you use providers that belong to the plan’s network. You can use doctors, hospitals, and providers outside of the network for an additional cost. PPOs do not require you to select a Primary Care Physician. One of the benefits of a PPO is you usually can self-refer to a Specialist.
In California, the popular PPOs are Blue Shield of California, Health Net Life Insurance Company, and Oscar.
EPO - Exclusive Provider Organization
A managed care plan where services are covered only if you go to doctors, specialists, or hospitals in the plan’s network (except in an emergency). Under an EPO plan you do not choose a Primary Care Physician. You can receive care from any of the in-network doctors and self-refer to in-network specialists.
In California, the popular EPOs are Anthem Blue Cross, Health Net Life Insurance Company, and Oscar.
If you want to discuss options about your health insurance, we recommend speaking with an independent insurance agent like George Beach Insurance Services. We work for you the client, and not a particular big company.
When you speak about the overall well-being of an individual, it's important to note that mental health is as important as a person's physical health. There has unfortunately been a stigma that has surrounded issues of mental health, and this has often prevented people from receiving the help that they need with their issues of mental well-being. Thankfully, this is starting to change as more awareness about mental health challenges is becoming prominent thanks to a number of awareness campaigns that have been put out to the public by various mental health advocacy organizations. With the changing attitude toward mental health well-being, there's also a heightened awareness that mental health treatment needs to be covered under health insurance plans in the way that one's physical well-being is covered.
Why it's Needed
One in five teenagers and young adults suffer from a mental health condition, and less than half receive treatment. This should be a red flag to everyone out there about how pressing this issue currently is. This is also a clear signal as to why it's so important that mental health treatment is covered within the scope of today's health insurance plans. There has always been a lingering stigma behind mental health issues, and being able to get the treatment that you need through the use of your health insurance plan is a major step toward the continued fight to combat this stigma.
What is Provided?
As a result of the 2008 Mental Health Parity and Addiction Equity Act, insurance providers that do cover mental health treatment are required to offer coverage in this area that's comparable to the coverage offered for matters of your physical health. This law is in effect over insurance plans such as those that are sponsored by an employer or ones that are purchased through a health insurance exchange. It also pertains to the majority of Medicaid programs and the Children's Health Insurance Program. Though this move is certainly one that goes in the right direction, the law doesn't make it a requirement that insurers provide mental health treatment coverage. Rather, they're simply required to cover this treatment equally in the case that it's covered.
Does Your Insurance Cover Treatment for Mental Health?
As previously mentioned, it's not required under the law that a health insurance provider covers treatment for mental health. Due to this fact, it's up to you as the insured to check your benefits description and find out if your particular plan covers treatment for mental health issues.
Mental health issues affect us all. Virtually all of us have known someone who has suffered from the often debilitating effects of mental health difficulties. Therefore, it's a great step in the right direction that there's now a great deal more parity in the health insurance industry in regard to the coverage of mental health treatment as part of the plans that are available today.
If you want to attract great employees and avoid a high turnaround rate, it's important to offer competitive and comprehensive health benefits to your employees. As an employer, you'll need to decide what health benefits to provide your employees to ensure that they're satisfied and feel compensated for their hard work and dedication to the company. Here are a few health benefits to consider in order to improve retention.
Benefits can be more important than salary for employees. Health insurance is one of the most coveted benefits for employees, and having them also means that your team members won't take as much time off of work due to health concerns. With quality health insurance provided, you can improve the operations in the workplace and help your employees to have less stress due to medical bills or a lack of coverage. Employees may also accept better health insurance instead of a higher salary for added savings for your company. It can also allow you to obtain tax advantages of deducing plan contributions.
Source: Why Benefits Are More Important Than Salary
Employee Wellness Programs
More companies are incorporating employee wellness programs into the workplace as a way to show they care about the health and well-being of the staff as a value on investment. The quit rate from 2018 is nearly at a 17-year high, and those workers are searching for something better. Retention increases when companies demonstrate that they care about healthy employees — and this extends even to workers who don't make use of a wellness program. A survey found that 73% of employees without access to wellness programs want them.
Source: Value On Investment: The Case for Employee Wellness Program Benefits
Dental Care Plan Coverage
Consider offering insurance that will pay off a portion of the cost of dental treatment and care. Dental health coverage often includes different types of procedures and treatments. Most care plans include Preventative, Basic, and Major services to ensure that the individual can maintain their oral health. The benefits can be calculated in multiple ways with coverage provided based on usual, customary, and reasonable fees. It can also be calculated with the inclusions taken into account on a fixed fee schedule or table of allowances. Be sure to let your employees know that in most plans, cosmetic or orthodontic work is not covered in basic plans, and if that is something they need, they may need to do a bit more exploring. For example, while most dental plans will cover fillings, they will only cover amalgam (silver) fillings, while the composite ones would require additional cost.
Source: The 5 Things You Should Know Before You Buy Dental Insurance
By selecting the right health benefits to offer to your employees, you can create a stronger team that is composed of confident professionals. The compensation that is provided will allow more people to remain loyal to the company and can attract better candidates as you grow your team.
If you enjoyed this article, be sure to check out some more on our blog, such as the ones listed below:
Since the 2019 Open Enrollment Period is over, you can now enroll in or change a Health Insurance Marketplace plan only if you have a life event that qualifies you for a Special Enrollment Period.
A change in your situation — like getting married, having a baby, or losing health coverage — that can make you eligible for a Special Enrollment Period, allowing you to enroll in health insurance outside the yearly Open Enrollment Period.
There are 4 basic types of qualifying life events. (The following are examples, not a full list.)
Loss of health coverage
Changes in household
Changes in residence
Other qualifying events